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Simpson Manufacturing Co., Inc. (NYSE: SSD), headquartered in Pleasanton, California, stands as a global leader in the design, engineering, manufacturing, and sale of building construction products for wood and concrete structures. Through its subsidiaries, including Simpson Strong-Tie Company Inc., the company offers an extensive range of products that are crucial to the residential, light industrial, and commercial construction markets.
For wood construction, Simpson Manufacturing provides products such as connectors, truss plates, fastening systems, fasteners, shear walls, and prefabricated lateral systems. These products are primarily used in light-frame construction, offering stability and strength in building structures. In addition, the company caters to the concrete construction sector with products including adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder-actuated tools, and fiber-reinforced materials. These items are pivotal for construction repair, protection, and strengthening applications.
Simpson Manufacturing is committed to innovation and quality, continuously enhancing its product offerings to meet evolving market needs. The company's operations span three primary regions: North America, Europe, and Asia Pacific, with North America being the largest contributor to its revenue.
Recent financial highlights indicate solid performance despite challenging market conditions. For the third quarter of 2023, the company reported net sales of $580.1 million, a 4.8% increase from the same period in the previous year. This growth was driven by improved volumes in the North American segment and double-digit volume growth in commercial, national retail, and building technology markets. However, the company anticipates some downward pressure on results in the fourth quarter of 2023 due to market conditions and typical seasonality.
In corporate developments, Simpson Manufacturing continues to focus on strategic investments and growth initiatives, such as expanding its digital offerings and enhancing customer experience. The recent appointment of Udit Mehta as Chief Technology Officer in May 2024 underscores the company’s commitment to advancing its technological infrastructure and driving innovation.
Simpson Manufacturing also emphasizes its social and environmental responsibilities. The company’s Fiscal 2023 Corporate Social Responsibility Report highlights its ongoing commitment to sustainable business practices and social responsibility, reflecting its dedication to positive impacts on society and the environment.
As Simpson Manufacturing looks to the future, it remains focused on leveraging its strong market position, innovative product offerings, and strategic investments to drive long-term growth and enhance shareholder value.
Simpson Manufacturing Co. (NYSE: SSD) reported a robust fourth quarter with net sales of $293.9 million, up 12.0% year-over-year. Net income rose to $29.6 million, or $0.68 per diluted share, reflecting a 7.9% increase. For 2020, net sales reached $1.27 billion, a 11.6% annual rise, with net income of $187.0 million or $4.27 per share, marking a significant 43.3% increase. A quarterly dividend of $0.23 per share was declared. The company repurchased shares totaling $76.2 million in 2020.
Simpson Manufacturing Co., Inc. (NYSE: SSD) will announce its fourth quarter and full year 2020 financial results on February 8, 2021, at 4:15 p.m. ET. A conference call hosted by President and CEO Karen Colonias and CFO Brian Magstadt will follow at 5:00 p.m. ET. Interested parties can access the call via the Investor Relations section of their website. A replay will be available after the live broadcast until February 22, 2021. Simpson Manufacturing specializes in engineered structural connectors and building solutions.
Simpson Manufacturing Co. (NYSE: SSD) announced its participation in the CJS 21st Annual New Ideas for the New Year Conference on January 13, 2021. CEO Karen Colonias and CFO Brian Magstadt will present virtually at 11:00 a.m. ET and engage in investor meetings throughout the day. The presentation will be accessible via a live webcast on the company's website, with a replay available for 90 days afterwards. Simpson is a leading manufacturer of wood and concrete construction products, headquartered in Pleasanton, California.
Simpson Manufacturing Co. (NYSE: SSD) will participate virtually in R.W. Baird's 2020 Global Industrial Conference on November 10, 2020, at 11:25 a.m. ET. CEO Karen Colonias and CFO Brian Magstadt will present and engage in investor meetings. The presentation will be accessible via live webcast on the company's website, with a replay available for 90 days post-event. Simpson is recognized for its engineered structural connectors and construction solutions.
Simpson Manufacturing Co. reported a 17.5% increase in net sales for Q3 2020, totaling $364.3 million, driven by strong performance in North America and a rebound in housing activity. Gross margin rose to 47.6%, with income from operations soaring 49.8% year-over-year to $91.3 million. Diluted EPS increased by 58.8% to $1.54. The company updated its 2020 guidance, projecting net sales growth of 9.0% to 10.0%. A quarterly cash dividend of $0.23 per share was also declared.
Simpson Manufacturing Co. (NYSE: SSD) has appointed Michael Olosky as the new Chief Operating Officer, effective November 30, 2020. Olosky, who succeeds former COO Ricardo Arevalo, brings over 22 years of leadership experience from Henkel, where he was the Regional President for North America. He will oversee global sales and operations, reporting directly to President and CEO Karen Colonias. Colonias expressed confidence in Olosky's ability to drive innovation and growth for Simpson, highlighting his alignment with the company’s mission to provide strong building solutions.
Simpson Manufacturing Co. (NYSE: SSD) will announce its third-quarter financial results on October 26, 2020, at 4:15 p.m. ET. The results will be discussed in a conference call hosted by President Karen Colonias and CFO Brian Magstadt at 5:00 p.m. ET. Interested parties can access the call via webcast on the company’s investor relations website. A replay will be available until November 9, 2020. Simpson Manufacturing, a leader in engineered structural connectors and building solutions, designs and manufactures wood and concrete construction products.
Simpson Manufacturing Co. (NYSE: SSD), a leader in engineered structural connectors, announced participation in two upcoming virtual investor conferences. CEO Karen Colonias and CFO Brian Magstadt will present at the D.A. Davidson 19th Annual Virtual Diversified Industrials and Services Conference on September 22, 2020, at 4:00 p.m. ET, and at the Sidoti Virtual Investor Conference on September 24, 2020, at 10:45 a.m. ET. Both presentations will be webcast live, and replays will be available on their website for 90 days.
Simpson specializes in wood and concrete construction products.
Simpson Manufacturing Co. (NYSE: SSD) announced its participation in the Jefferies Virtual Industrials Conference on August 5, 2020. President and CEO Karen Colonias and CFO Brian Magstadt will present at 2:25 p.m. ET, engaging in investor meetings throughout the day. The live presentation will be available via the Company’s website, with a replay for 90 days following the event. Simpson, based in Pleasanton, California, specializes in engineered wood and concrete products, enhancing its position in the construction sector.
Simpson Manufacturing Co. reported second-quarter 2020 net sales of $326.1 million, a 7.0% increase year-over-year. The gross margin improved to 45.9%, while income from operations rose 34.6% to $72.2 million. Diluted earnings per share increased 38.6% to $1.22. Despite challenges due to COVID-19, the company is optimistic about continued demand, particularly in North America, and has provided a full-year revenue guidance of a 1.5%-4.0% growth outlook. A dividend of $0.23 per share was declared.
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